Business
NAICOM, FRSC, NHIA Unite to Revolutionise Road Safety with Motor Third Party Insurance Scheme
By Angel Ike
The National Insurance Commission (NAICOM), Federal Road Safety Corps (FRSC), and National Health Insurance Authority (NHIA) have joined forces to enhance road safety and emergency response in Nigeria through the Motor Third Party Insurance Scheme.
This partnership was reinforced during a courtesy visit by FRSC Corps Marshal Shehu Muhammed to NAICOM Commissioner for Insurance Olusegun Omosehin at the NAICOM Headquarters in Abuja.
The Corps Marshal praised NAICOM for the recently signed Nigerian Insurance Industry Reform Act (NIIRA) 2025 and recognized its leadership in driving industry reforms.
He emphasised the urgent need for improved data exchange between FRSC and NAICOM to enable faster accident response and victim compensation.
He further highlighted the importance of digitising processes to eliminate fake motor insurance policies and speed up emergency interventions.
In response, the Commissioner, Omosehin expressed gratitude for the visit and applauded FRSC’s licensing system upgrades.
He noted that NIIRA 2025 reinforces compulsory third-party motor insurance and establishes a compensation fund for accident victims, with a management committee that includes FRSC representatives.
Ajodi Nasir, representing NHIA, praised the collaboration, underscoring its potential to ensure prompt medical care for road accident victims and reduce fatality rates.
Key agreements reached include:Integration of data sharing systems between NAICOM and FRSC for seamless information flow. Development of a joint public awareness campaign promoting insurance benefits and road safety. Creation of a joint enforcement committee to combat fake insurance policies and ensure valid coverage. Inclusion of third-party motor insurance requirements in FRSC’s awareness and enforcement activities.
This alliance aims to protect motorists and road users by boosting safety measures, accelerating emergency response, and safeguarding insurance interests.
According to them, the joint committee’s inauguration date will be announced soon.